Mangrove Property Insurance Achieves 90 Percent Policy Retention in Citizens Depopulation Program Year-to-Date

Insurance and reinsurance executive Stephen Weinstein is founder and CEO of Mangrove Property Insurance.

Mangrove's P&C solutions are tailored to Florida's unique market.

Providing a Stable Source of Renewal Capacity for Florida Policyholders and Agents

We’re pleased to announce these initial renewal results from policies we underwrote to assume from Citizens in the first half of 2025.”

— Stephen Weinstein

ST. PETERSBURG, FL, UNITED STATES, September 15, 2025 /EINPresswire.com/ -- Mangrove Property Insurance Company (Mangrove) announced that its initial round of policy renewals from business assumed from Citizens Property Insurance Corporation (Citizens) has achieved a successful renewal rate of approximately 90 percent. Mangrove believes these initial results reflect its strong acceptance among independent agents and policyholders.

“We’re pleased to announce these initial

renewal results from policies we underwrote to assume from Citizens in the first half of 2025,” said Stephen Weinstein, founder and Chief Executive Officer of Mangrove. “We believe our targeted underwriting, policyholder commitment, and vision of providing a stable source of renewal capacity in partnership with the incumbent agents are the key factors driving these successful renewals.”

“We will be consistent in our approach in the fourth quarter Citizens assumption process, continuing our focus on policies which meet our robust selection criteria and which we believe can be underwritten on an actuarially sound basis within 20 percent of Citizens rates, and striving to provide agents and policyholders with a smooth, seamless process,” Weinstein added.

Currently, Mangrove is participating in the Citizens October assumption cycle. Policyholders have until October 9, 2025, to make their preferred carrier selections. Mangrove is also approved to participate in the November and December 2025 Citizens assumptions.

Learn more here.

ABOUT MANGROVE: St. Petersburg, Florida-based Mangrove Property Insurance was launched in January 2025 to offer admitted homeowners’ insurance in Florida. Through partnerships with local independent agents in all 67 Florida counties, Mangrove is committed to providing sustainable, long-term capacity tailored to Florida’s unique market. Rated “A, Exceptional,” by Demotech, Inc., Mangrove will soon begin writing new homeowners coverage on a voluntary basis throughout Florida. For more information about Mangrove, including agency appointment requests, visit Mangrove-FL.com.